Invesco strategist Paul Jackson said that Bitcoin could fall below $30,000 and he gives it a 30% chance of happening. "The mass marketing of bitcoin reminds us of the activity of stockbrokers in the run-up to the 1929 crash," Jackson said in a note, Business Insider reported. Seba Bank CEO Guido Buehler said to CNBC that the firm’s “internal valuation models indicate a price right now between $50,000 and $75,000.

I’m quite confident we are going to see that level. The question is always timing.” Goldman Sachs and Bloomberg Intelligence’s Mike McGlone are uber bullish on Bitcoin as they expect the price to reach $100,000.

We had mentioned in our previous analysis that Bitcoin could pick up bullish momentum if it breaks above £32,353.68. Although the price sneaked above this resistance on January 12 and 13, the bulls could not sustain the higher levels. This suggests that bears continue to sell on rallies. The failure to rise above the resistance has attracted profit-booking.

The bears will now try to pull the price to the strong support at £29,000. The moving averages have completed a death cross and the relative strength index (RSI) has dipped below 35, suggesting that bears have the upper hand. If sellers sink the price below £29,000, the BTC/GBP could start the next leg of the downtrend. Alternatively, if the price rebounds off £29,000, the bulls will make one more attempt to clear the overhead hurdle at £32,400.

If they succeed, the pair could rise to £34,031.76. The trend favours the bears hence, we suggest traders remain on the sidelines. We will wait for the price to rise above the moving averages before turning positive. 

Lastly please check out the advancement’s happening in the cryptocurrency world.

Enjoy the issue!

– Candao
– Onino
– Digital Arms
– bitcci
– Mine Network
– Hubble Protocol



We had mentioned in our previous analysis that Bitcoin’s failure to rebound off the 200-day simple moving average (SMA) was a bearish sign and could lead to further downside and that is what happened.

The BTC/GBP pair plunged below the strong support at £34,031.76 on January 4. This intensified the selling and pulled the pair to the strong support at £29,000. The long tail on the day’s candlestick shows that bulls are attempting to defend the level aggressively. Read more


We had warned that if Ether broke below £2,653.66, the selling momentum could pick up and the decline could reach £2,258.36 and that is how it played out.

The bulls are attempting to defend £2,200 which could start a rebound that is likely to face resistance at the 200-day SMA. The downsloping 50-day SMA and the RSI in the oversold territory indicate that the path of least resistance is to the downside.  Read more


XRP turned down from £0.64 on January 2 and plunged below the support at £0.56 on January 5. The long tail on the day’s candlestick indicates that bulls bought the dip and tried to start a recovery. Read more


Cardano continued its gradual decline and slipped below the support line of the descending channel on January 5. The bulls pushed the price back into the channel on January 6 but could not sustain the level.

This suggests that bears continue to sell on every minor rally. If bears sustain the price below the channel, the ADA/GBP pair could drop to £0.70.  Read more


Binance Coin broke and closed below the strong support at £377 on January 4, indicating that the bears had overpowered the bulls.

The selling momentum picked up and the BNB/GBP pair plunged below the 200-day SMA on January 8. A minor positive is that the bulls are attempting to defend the psychological level at £300.   Read more

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